Manage Ledgers within the Sales Trust

The Manage Ledger page allows Trust Accountant users to create and maintain ledgers and sub-ledgers for properties for sale, properties for lease, and bonds.

Navigation:
Sales Trust > Manage Ledger

This article explains how to create, view, and manage ledgers and sub-ledgers.

Create a New Ledger

1. Go to Sales Trust > Manage Ledger

2. Click New Ledger

3. Enter a unique Ledger Code (up to 10 characters)

4. Click Create New

5. Complete the sections below, then click Save Details

General Details

• Upload a photo (optional)

• Ledger Name

• Property Address, Suburb, Postcode, State

• Category

If Property for Sale or Property/Unit for Lease is selected, a Sales or Leasing Reference can also be entered.

Agent Details

• Sales or Leasing Agent

• Agent Company

• Remittance Office

Owner Details

• Company Type

  • New: enter owner details

  • Existing: select an existing owner company

Bank Account

• Select the applicable bank account

Saving the ledger will also automatically create the calendar for that ledger.

Commission Details (if applicable)

• Property for Sale: Asking Price, Sale Price, Settlement Date, Commission Type

• Property/Unit for Lease: Asking Rent, Settlement Rent, Settlement Date, Commission Type

View and Edit a Ledger

1. Go to Sales Trust > Manage Ledger

2. Select a ledger from the drop-down list

You can update:

• Ledger details (name, address, category, reference)

• Ledger status (Active / Inactive)

• Agent and owner details

• Commission details (including calculation and agency charges)

Click Update Details or Update Commission to save changes.

Contacts, Documents, Notes, and Calendar

Contacts

• Add owner or tenant contacts with email or phone details

Documents

• Upload documents such as sales agreements or offers to lease

Notes

• Add and navigate ledger notes using headers

Calendar

• Open, close, or amend calendar periods for the ledger

Create a Sub-Ledger

Sub-ledgers are used to separately hold funds for different parties (e.g. seller, buyer).

1. Select a ledger

2. Open the Sub-Ledger tab

3. Click the + icon

4. Enter Sub-Ledger Code, Type, Name, Location, and Company

5. Click Add Sub Ledger

View Sub-Ledgers

From the Sub-Ledger tab you can:

• View active and inactive sub-ledgers

• Search sub-ledgers

• Calculate balances (single or all)

• View change logs

• Navigate directly to AP invoices, AR invoices, or receipts

Reports

Using the Printer icon you can generate:

• Trust Account reports

• Seller reports

• Purchaser reports
  Reports can be downloaded or emailed.

Edit a Sub-Ledger

1. Select the sub-ledger code

2. Click the Edit pencil

You can:

• Update sub-ledger details

• Set status to Inactive (balance must be zero)

• Delete the sub-ledger (only if no transactions exist)

Click Update Sub Ledger to save.

Agency Charges (Sub-Ledger)

• Use the white pencil icon to add agency charges

• Enter sub-ledger, description, account, and amount

• Existing charges can be edited and updated as required